Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 48
Average Price: $149,721
Highest Price: $999,900
Lowest Price: $14,750

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Bank Owned Homes

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $400,000 - $500,000 $900,000 - $1,000,000
New Listings First
17 Properties Found.
Photo of Listing #1836073

2389 Beebe Road

$162,900

Kalkaska, Michigan
3 Bed, 2 Bath, 2250 Sqft, 0.53 Acres
Single Family

Photo of Listing #1835897

14617 Thompson Avenue

$84,900

Thompsonville, Michigan
3 Bed, 1½ Bath, 1200 Sqft, 0.2 Acres
Single Family

13615 S High Point Drive

$167,400

Traverse City, Michigan
3 Bed, 3 Bath, 1830 Sqft, 1.51 Acres
Single Family

303 Evergreen Street

$55,900

Kalkaska, Michigan
3 Bed, 1 Bath, 1236 Sqft, 0.44 Acres
Single Family

7097 Butler Road

$105,000

South Boardman, Michigan
3 Bed, 2 Bath, 2160 Sqft, 2.25 Acres
Single Family

4895 Oslund Road

$109,900

Mancelona, Michigan
2 Bed, 1½ Bath, 1232 Sqft, 3 Acres
Single Family

12100 E Tatch Road

$285,000

Northport, Michigan
4 Bed, 4½ Bath, 3243 Sqft, 2.4 Acres
Single Family

9258 Blackburn Drive

$112,000

Traverse City, Michigan
3 Bed, 1½ Bath, 1572 Sqft, 0.95 Acres
Single Family

Photo of Listing #1834380

6680 S Schomberg Road

$229,900

Cedar, Michigan
3 Bed, 1½ Bath, 1470 Sqft, 12.8 Acres
Single Family

Photo of Listing #1832858

9445 Twinbrook Drive

$139,000

Rapid City, Michigan
3 Bed, 2 Bath, 1300 Sqft, 0.5 Acres
Single Family

9499 S Nottingham Drive

$999,900

Traverse City, Michigan
3 Bed, 3½ Bath, 5547 Sqft, 33.33 Acres
Single Family

9499 S Nottingham Drive

$959,900

Traverse City, Michigan
3 Bed, 3½ Bath, 5547 Sqft, 33.33 Acres
Single Family

Photo of Listing #1832779

2107 Lincoln

$39,000

Central Lake, Michigan
4 Bed, 1½ Bath, 1812 Sqft, 0.33 Acres
Single Family

Photo of Listing #1831229

1959 Farm Lane

$69,900

South Boardman, Michigan
3 Bed, 1 Bath, 1812 Sqft, 0.25 Acres
Single Family

Photo of Listing #1828145

4009 Barnes Road

$149,900

Traverse City, Michigan
3 Bed, 1½ Bath, 1904 Sqft, 0.71 Acres
Single Family

Photo of Listing #1827534

1577 Lavender Lane

$445,000

Traverse City, Michigan
4 Bed, 3½ Bath, 4100 Sqft, 5.14 Acres
Single Family

Photo of Listing #1827187

408 E Old State Road

$135,000

East Jordan, Michigan
3 Bed, 2 Bath, 1960 Sqft, 2.18 Acres
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

 The best way to keep up with the market and to be one of the first to know about new or revised bank owned listings is to get set up with automatic email notifications.  Just let us know what you are looking for and we can get you set up and remember, you can opt out or change your search criteria anytime.

Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.